Apple iPhone takes 52% of third quarter industry profits

In Smartphone news, the iPhone is making a lot of money for Apple—more than half the industry’s overall profits belong to the Cupertino-based company. Though Samsung has pushed way ahead of Apple for sales in the September quarter, Apple managed to command 52% of the profits with the iPhone.

This is according to Canaccord Genuity Analyst T. Michael Walkley, who points out that Apple’s profit command comes from only 4.2 percent of the global market share; smaller still when you realize that its market share has dipped from 5.4 percent.

It’s also worthy to note that in the third quarter of 2011, Samsung and Apple combined make up 81% of the money made for the smartphone market. The rest of the 8 largest manufacturers: Nokia, RIM, Motorola, Sony Ericsson, LG, HTC, all came in with under 10% of the profits.

Walkley also points out that four years ago Apple was puttering around with only 4% of the profits while Nokia reigned with a whopping 67%, and now the two companies fortunes have reversed.

As impressive as that 52% seems, Walkley believes that Apple will be reaping even bigger profits when the fourth quarter rolls around. With Rim and Motorola struggling in North America and Nokia bogged down as well, Apple is predicted to grab at least 60% of the smartphone industry’s profits. The company is expected to hit 29 million iPhone sales by December and to pump out 104.4 million by the end of 2012.

Despite the popularity of Android, Apple ruling in the profits area has become a trend as Canaccord Genuity that the iPhone garnered roughly 50 percent in the years first quarter. Apple may have ceded the title of largest phone vender to Samsung, but of course that was before the iPhone 4S launch.